Kotak Mahindra Bank was established in 1985, and since then, it has become India's most influenced private sector bank providing financial solutions to the customers. On April 2015, Kotak Mahindra acquired ING Vyasya after getting the approval from Reserve Bank of India. Today, all the functions carried out in ING Vysya are looked after by Kotak Mahindra. However, after the merger, ING Vysya was allowed to hold 6.5% stake in the current organization.
At loanbaba.com, we will share updated information about best fixed deposit rates, FD India schemes of the bank and Kotak Mahindra Bank FD rates over all tenures for fixed deposit and term deposit. You will also come to know about popular FD rates, India by the bank for 2017 and FD interest rates that are the highest.
For the short-term holding period of 7-14 days, the interest rate is levied at 4% per annum whereas, for the holding period of 15-30 days, the return is decreased by 0.5% to 3.5% per annum. Moreover, for the deposit period of 31-45 days, the interest is levied at 5.5% per annum, and it considerably gets increased to 6.25% for the tenure of 46-90 days. For the tenure of 91-179 days, the interest rate is calculated at 6.75% per annum.
However, for the tenure of exactly six months can avail the interest of 7.10% per annum. Deposits with a period of 181-269 days are rewarded with 0.1% higher rate at 7.10% per annum. It is 7.30% for the tenure of nine months and 7.40% for the tenure between 271-363 days. The return of 7.40 is the highest for the holding period of 364 days.
For the tenure of 365-390 days, the returns are pegged at 7.50% per year, and when the deposit period increases to 391 days to less than 730 days, the rate of interest is on the lower side with 7.5% per annum. It is eventually decreased by 0.25% to 7.25% per annum for the tenure ranging from 3-4 years.
For the holding period of four years and above to less than five years, the rate of interest is calculated at 7.25% per annum.
The senior citizens are benefitted with an additional 0.5% on their deposits under Kotak Mahindra Senior Citizens Fixed Deposit scheme. It is a great opportunity for the individuals who are looking to invest in some profitable products.
Akshar Blue Chip IT Park, 703, Thane - Belapur Rd, Turbhe, Navi Mumbai, Maharashtra 400705